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Clear PRSA

Planning for your retirement is probably one of the biggest and most important financial decisions you will ever make. And you’re never too young or too old to start saving for the future you want for yourself. A pension is basically a long-term savings plan that allows you to build up a fund which will help give you the freedom to live the lifestyle you’d like when the time comes to retire. Please note that pension income in retirement is subject to income tax at your highest rate on withdrawal, Universal Social Charge, PRSI (if applicable) and any other charges or levies ("tax") applicable at that time.

We know that your circumstances and goals will change over time – that's why you have the freedom to amend your savings as you move towards retirement, allowing you to increase, decrease or even stop your payments if you need to.

Combine this with the fact that you may be able to benefit from income tax relief* on your contributions and then starting a pension or improving your existing plan becomes a very attractive proposition. Tax relief is not guaranteed. To be eligible to claim relief, your income must be taxable either Schedule E or Schedule D (case I or II). To claim tax relief, you can apply to your Inspector of Taxes to adjust your tax credits. Contributions deducted from salary will receive immediate tax relief. If you are self- employed, you must include your pension contributions in your self assessment tax returns in order to obtain income tax relief. Should an employer pay contributions into an employee's PRSA then the employee must pay the Universal Social Charge on any employer contribution.

Meeting a Pensions Adviser can help you prepare and put a plan in place that suits your retirement needs for your golden years and the younger you are when you start saving the less you’ll need to put away each month.

People often think that pensions are confusing, but at EBS we have a team of Pension Experts you can speak to who will look at your own personal circumstances and explain how best to go about planning for your retirement.

The Importance of Planning for your Retirement

Did you realise that you could spend up to a quarter of your life in retirement? The State Pension (contributory) is currently €230.30* a week (as at June 2012). Could you live comfortably on this amount when you’re retired? Although people often think pensions are confusing at EBS we have a team of Experts you can speak to who can explain how best to go about planning for your retirement.

If you have questions about a pension, whether you already have a pension or not, a chat with an EBS Pension Adviser will give you all the answers you need.

Important Information: Your review will be carried out by a Pensions Adviser.

Pensions are provided by Irish Life Assurance plc (Irish Life)

WARNING: THE VALUE OF YOUR INVESTMENT MAY GO DOWN AS WELL AS UP.

WARNING: THIS PRODUCT MAY BE AFFECTED BY CHANGES IN CURRENCY EXHANGE RATES.

WARNING: IF YOU INVEST IN THIS PRODUCT YOU MAY LOSE SOME OR ALL OF THE MONEY YOU INVEST.

WARNING: IF YOU INVEST IN THIS PRODUCT YOU WILL NOT HAVE ANY ACCESS TO YOUR MONEY UNTIL AGE 60 AND/OR YOU RETIRE.

PRSAs are provided by Irish Life Assurance plc and are long term savings plans from which the benefits can only be taken at age 60 and/ or retirement. EBS d.a.c. (EBS) is a tied insurance agent of Irish Life Assurance plc for life insurance products.